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The withdrawals of the schemes came as investor focus shifted to existing debt funds after the government introduced changes to the mutual fund taxation in the Finance Bill.
Some fund houses have reopened their international schemes so that investors benefit from long-term capital gains tax rate before new rules kick-in from 1 April
The Quant Dynamic Asset Allocation Fund will dynamically switch between equities and debt. The one difference this scheme has from existing balanced advantage funds is that it doesn’t insist on a minimum 65% equity exposure at any time. The NFO opened on March 23 and will close on April 6